Latest China DCM news

  • Short and sweet: Cogo seals three year bond

    China Overseas Grand Oceans Group (Cogo) raised a larger than expected $500m from a three year bond on Thursday, a week after pulling a 2023 transaction. Future Land Holdings Co also managed to woo investors to a $200m tap.

    • 25 May 2018
  • BEWG prices Panda but abandons Bond Connect plan

    Beijing Enterprises Water Group (BEWG) sold two tranches of Panda bonds in the onshore interbank market on Thursday, taking home Rmb3bn ($470.1m). The issuer had hoped to bring in foreign investors through Bond Connect, but scrapped the plan in a rushed outing to the market.

    • 25 May 2018
  • CMB closes in on big five Chinese banks with FRN

    China Merchants Bank’s Hong Kong branch managed to lock in a tight spread without sacrificing size on its $500m floating rate note on Wednesday.

    • 24 May 2018
  • Back to CNH: Reverse enquiry leads QNB to Formosa

    Qatar National Bank (QNB) came back to the offshore renminbi market this week, just two months after its last syndicated CNH transaction. The issuer raised Rmb600m ($94m) on Wednesday by selling a three year note in Taiwan, after investors demonstrated demand for its renminbi debt.

    • 24 May 2018
  • Updated: BECE to debut perpetual Panda

    Hong Kong-listed Beijing Enterprises Clean Energy Group (BECE) has filed for a Rmb2.8bn ($439m) issuance programme in China, paving the way for the red chip’s debut in the Panda market. Should the application go through, the issuer will sell the first perpetual bond in the asset class.

    • 23 May 2018
  • Tianqi bonds hit by acquisition plan, CEFC slumps

    Tianqi Lithium Corp and CEFC China Energy Co were thrust into the limelight this week after their existing dollar bonds plummeted in the secondary market. Addison Gong reports.

    • 23 May 2018
  • China DCM head leaves Barclays

    Royston Quek, head of Greater China DCM at Barclays, has left the bank after just over three years on the job.

    • 23 May 2018
  • Time to take corporate FRNs seriously

    The successes and failures of a handful of deals last week showed that floating rate notes are not just for financial credits, but can also serve corporations well — especially in times of real need.

    • 21 May 2018
  • RMBS: Chinese banks take aim at Bond Connect

    While Bond Connect has opened up China’s booming securitization market, most international investors are only tapping deals originated by foreign auto finance companies. But this is starting to change as Chinese banks prepare to sell residential mortgage-backed securities (RMBS) through the bond link.

    • 21 May 2018
  • Great Wall AMC prices $600m bond

    China Great Wall Asset Management Corp snapped up $600m from a five year bond on Thursday, a modest size compared to its last offshore outing.

    • 18 May 2018

China DCM news archive

GlobalRMB Panda Bonds league table

Rank Arranger Share % by Volume
1 China Merchants Securities Co 21.76
2 Agricultural Bank of China (ABC) 15.11
2 CITIC Securities 15.11
4 China CITIC Bank Corp 13.60
5 Industrial and Commercial Bank of China (ICBC) 10.58

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 09-May-18 Daimler Germany 5,000
2 26-Apr-18 Global Logistic Properties via Iowa China Offshore Holdings Hong Kong 1,500
3 26-Apr-18 Trafigura Singapore 500
4 23-Apr-18 CAR Inc Hong Kong 730
5 11-Apr-18 China Jinmao Holdings China 3,000

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 Standard Chartered Bank 36.83
2 HSBC 14.94
3 Bank of Taiwan 4.77
3 Cathay United Bank 4.77
5 Societe Generale Securities Services 4.13

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 23-May-18 QNB Finance Qatar 600
2 16-May-18 First Abu Dhabi Bank PJSC United Arab Emirates 1,100
3 04-May-18 Busan Bank South Korea 500
4 27-Apr-18 Central American Bank for Economic Integration (CABEI) Honduras 2,000
5 24-Apr-18 CAR Inc China 350